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A Technical Look at HTDS

From the charting side of stock investing, HTDS is looking really good. The MACD Fast Line is approaching the MACD Slow Line from below in preparation for a bullish crossover. The RSI(14) line increased on Friday to close around the 45 mark. Momentum is also up with the MTM(10) advancing on the 0 line from below while remaining above the EMA(MTM)(5) line for 7 days.

The recent candlesticks on the chart look equally promising for long investors. Thursday's price action was marked with a bearish (black) marubozu having an opening price of 0.0032 and a closing price of 0.0030. The roles were reversed on Friday, which closed on a bullish belt hold - an opening marubozu having an opening price of 0.0030 and a closing price of 0.0032. Friday's opening marubozu had a high of 0.0033.

A brief interpretation of the candlesticks for Thursday and Friday is as follows...

On Thursday, the bears had complete control over HTDS, as they have had for quite some time now. Trading began at 0.0032 and was driven down to 0.0030 by the end of the day with little resistance from the bulls. With the uncertainties that lie ahead for the bears due to the pending stock buyback and the upcoming shareholder's conference, it appears as though the bears (or shorts) worked diligently to try to exit HTDS.

On Friday, the bulls took charge from the beginning of the trading day, driving the share price back up from 0.0030 to 0.0032. Trading met with a little resistance from the bears that remained, but they were unsuccessful in regaining control of HTDS from the bulls.

Volume on Friday was somewhat similar to the volume on Thursday. As the RSI and MTM continue to push upward, I expect to see positive trading volume increasing significantly, especially with the MACD so near to entering a bullish crossover.

It is just my opinion, but now that the long shareholders - the bulls - have begun to regain control of HTDS we should start to see some nice improvements to the share price over the next two weeks, beginning Monday. Hang on tight to your shares and don't let the shorters and bashers intimidate you into selling your positions to them and we will all be much better off.

Disclosure: Long HTDS